Insider Selling: Progyny (NASDAQ:PGNY) Director Sells $196,315.21 in Stock

Progyny, Inc. (NASDAQ:PGNY) Director Cheryl Scott sold 7,439 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.39, for a total transaction of $196,315.21. Following the transaction, the director owned 19,772 shares of the company’s stock, valued at $521,783.08. This trade represents a 27.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Progyny Trading Up 1.5%

NASDAQ:PGNY opened at $25.86 on Friday. The firm has a 50-day moving average price of $20.58 and a two-hundred day moving average price of $22.30. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $28.75. The company has a market capitalization of $2.03 billion, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 2.25 and a beta of 1.03.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.24. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The firm had revenue of $328.50 million during the quarter, compared to the consensus estimate of $326.47 million. During the same period last year, the firm posted $0.17 EPS. The firm’s revenue for the quarter was down 26.4% on a year-over-year basis. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. On average, equities research analysts predict that Progyny, Inc. will post 1.07 earnings per share for the current year.

Progyny declared that its board has authorized a stock buyback plan on Tuesday, May 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 10.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Progyny

Several hedge funds have recently modified their holdings of the stock. Segall Bryant & Hamill LLC boosted its position in shares of Progyny by 68.4% in the first quarter. Segall Bryant & Hamill LLC now owns 82,198 shares of the company’s stock worth $1,396,000 after acquiring an additional 33,380 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Progyny by 75.3% in the first quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock worth $20,223,000 after acquiring an additional 511,609 shares during the last quarter. South Dakota Investment Council boosted its position in shares of Progyny by 20.0% in the first quarter. South Dakota Investment Council now owns 137,524 shares of the company’s stock worth $2,335,000 after acquiring an additional 22,900 shares during the last quarter. Amundi acquired a new stake in shares of Progyny in the first quarter worth approximately $180,000. Finally, California State Teachers Retirement System boosted its position in shares of Progyny by 30.4% in the first quarter. California State Teachers Retirement System now owns 99,753 shares of the company’s stock worth $1,694,000 after acquiring an additional 23,273 shares during the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on PGNY. Bank of America raised their target price on shares of Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday. Barclays lifted their price target on shares of Progyny from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Zacks Research upgraded shares of Progyny from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Wall Street Zen upgraded shares of Progyny from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Progyny in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.67.

About Progyny

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.